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Valley of Lakes RICO Class Action against PNCBANK, et al.
ripped edge: exhibits

Property Owners Association Letterhead

						May 24, 1994
To Our Fellow Property Owners:
	Almost all developments such as ours eventually form property owners' 
associations, which over a number of years begin to assume the overall 
responsibilities for maintaining and improving the community. Such a 
property owners' association works closely with the developer to ensure a 
harmonious transition of responsibilities and to address mutual concerns.
	According to the covenants of the Valley of Lakes, the developer has 
sole discretion as to when such a property owners' association may be 
created; i.e., no such organization may exist without the developer's 
specific permission. A core group of property owners who have been in 
constant communications with CBG has received that permission, and is now 
forming the Property Owners Association of the Valley of Lakes, or POA/VL.
	A pro-tem Board of Directors i-s drafting a proposed framework for the 
Association which will be presented to the membership for discussion.
	A statement of purpose of POA is as follows:
	The Property Owners Association of the Valley of Lakes exists to 
address mutual concerns with the developer in all aspects of life in the 
Valley; to offer a strong social framework to enhance community spirit and 
enjoyment; to propose and whenever possible undertake capital improvements 
which will benefit the property owners; and to improve through any manner 
the positive image of the Valley of Lakes.
	An immediate priority is establishing with the developer a timetable 
for the assumption of responsibilities.  For the present we intend to limit 
these to the dissemination of accurate information to the membership, 
review of the maintenance budget, and sponsoring social and recreational 
events. To commit POA to further responsibilities without the discussion 
with and permission of the membership would in our opinion be improper.
	We invite every property owner who abides by the rules, regulations 
and covenants and who shares in the desire to focus on the positive aspects 
of the Valley of Lakes to become involved. Call any board member with 
suggestions, ideas, or if you wish to volunteer assistance.
	This is your association, and we intend for it to truly represent you. 
In order for it to do so, however, you must become involved.  You will be 
apprised of important events, have the right to attend all meetings, and 
determine the direction of POA. We sincerely hope that you will work with 
your neighbors to make the association representative of your desires.

/s/						/s/
George Denke, 384-3751				Ron Kichline, 384-7348

/s/						/s/
Dianne  French, 384-2598                        Tom Pierson, 384-4190


	Three cheers for the Twin County Lions, who support charitable, 
service, and other community projects.  Their generosity in helping fire 
victims and others in need demonstrates their thoughtfulness and caring, 
and they deserve our support and assistance for all of their fund raisers. 
	One particular Lion and long-time member of our community Bob Leggo 
chose to get even more involved recently, when he witnessed a car theft and 
assault in Nuremberg.  Ignoring his personal safety, Bob chased and took on
a much larger assailant, subduing and holding him until the arrival of the
State Police. 	Bob deserves a lot of credit for his willingness to get
involved, and we are proud that he is our neighbor.
	In March the Nuremberg-Weston Fire Company responded to a house fire 
on Huron Circle.  The dedication and professionalism of the firefighters 
and their ability to douse a serious fire should make us all sleep easier 
in the knowledge that we are well-protected.
	By the way, the Nuremberg-Weston Fire Company hosts a great breakfast 
on the first Sunday of each Month as a fund-raiser.  Why not stop down and 
say hello?
	Property owners who have occasionally become alarmed when they 
observed a van marked "K-9 Search and Rescue Unit," parked in the area can
relax. 	The van is owned by residents Chris and Tom Pierson, who are
members	of the U.S. Disaster Team.  They regularly train and exercise their
search and rescue dogs in the valley with the permission of CBG, which
recognizes the importance of such a team and fully supports its efforts.
	The dogs, which are non-aggressive and very friendly, can find lost 
persons, drowning victims, and even buried bodies.  If you would like 
additional information, wish to see the dogs work, or even become a 
"victim", please call 384-4190.
Intersted in a special project?  In the near future POA will form several 
committees to investigate ways to physically improve our community.  The 
first will be a Beach Improvement Committee, which will determine the best 
ways to spend the donations raised to date, as well as ways to raise more 
money for worthwhile projects.  Watch the bulletin boards for information.
	A final note: while we continue to have problems, it seems that an 
overwhelming number of our property owners see our cups as half full,
rather then half empty.  There are a lot of good people here: people are
willing to get involved	in worthwhile projects;  people who care about
their neighbors; people	who freely donate money to those in trouble or for
worthwhile causes.  We should be very proud of what we have here in this 
beautiful Valley, and excited about the potential of the future.  Working 
together we can make the dreams we share a reality, and the Valley of Lakes 
the Ultimate model of a safe, harmonious and caring community.

	We have attempted in this first newsletter to give our 
membership an overview of who we are and why we are in existence.  
We have a considerable number of property owners who wish to take 
part in establishing a new organization which will work with the 
developer to make this a most harmonious community.
	The bottom line is that all logic points to the fact that we 
must have an effective property owners association which best 
represents the overall goals of community living by making positive 
contributions.  We are looking for ways to make this goal come true, 
and ask for your assistance and input to get involved.
	If you have any doubts which preclude your active involvement 
in the POA, we simply request that you give us the opportunity to 
demonstrate to you what a property owners' group can be and what it
can do for you.
	During the past weeks two groups of concerned property owners 
worked to improve the beach area.  Their efforts will most 
certainly be appreciated and applauded by all who use the beach, as 
well as by those attempting to sell their properties.
	At the forefront of these activities were the Natale families, 
Tom Murray of CBG, and George Denke.  Dozens of property owners 
contributed time and money to buy sand and make other improvements.  
These efforts are just one example of what can happen when we, the 
property owners who are most affected, decide to make concrete and 
positive contributions -Ln our own best interests.  In the future 
your property owners association will attempt to coordinate these 
efforts most effectively to make our development a true community 
of caring and sharing.  Isn't that, after all, what we all want? 
	The bulletin boards were erected with the permission of CBG. 
and built with the finances and efforts of several property owners 
who desire to inform the community of current events, etc.
	Anyone wishing to place articles of community interest in the 
bulletin boards is asked to receive permission from POA and CBG.  
Because of present space restrictions we cannot allow private 
advertising, and must limit the size of any signs.
	We have received many inquiries from property owners as to how 
they may be notified of upcoming activities.  Cost restrictions at 
present limit our abilities to send newsletters, although in the 
future we plan to communicate with our membership on a regular 
basis.  We are now exploring an automated telephone answering tape 
which a property owner can call during certain hours and receive 
information re meetings, events, etc.

Valley of Lakes RICO Class Action against PNCBANK, et al.

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